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<TD><IMG ALT="ICCF logo" SRC="images/logokl.gif" HEIGHT=87 WIDTH=141 ALIGN="LEFT"> </TD>
<TD ALIGN=right><FONT SIZE=2>
Stichting ICCF Holland<br>
Clematisstraat 30<br>
4925 BE  Venlo<br>
The Netherlands<br>
<br>
tel. 077 - 3872340<br>
giro 4548774<br>
KvK Venlo S 64588<br>
<A HREF="http://www.vim.org/iccf/" target="_top">www.vim.org/iccf</A>
</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=5>Financial report 1998</FONT></P>

<TABLE BORDER CELLSPACING=2 CELLPADDING=7 WIDTH=618 SUMMARY="assets">
<TR>
<TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>Overview of assets and liabilities</FONT><br>
<FONT SIZE=1>(in Dutch guilders)</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="CENTER"><FONT SIZE=3>1997</FONT></TD>
</TR>
<TR>
<TD WIDTH="51%" VALIGN="TOP"><P><FONT SIZE=3><B>Assets</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR>
<TD WIDTH="51%" VALIGN="TOP"><FONT SIZE=3>sponsor contributions</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>13.145</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>9.440</FONT></TD>
</TR>
<TR>
<TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>one-time donations</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>8.908</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>4.112</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>sale of Vim</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>0</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>2.401</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>interest</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>          7</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>         5</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>total</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>22.060</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>15.958</B></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>Liabilities</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>contributions towards the project in Uganda</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>21.646</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>15.677</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;foundation expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>78</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>91</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;bank expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>248</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>100</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;administration expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>  88</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3>  88</FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;interest</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>    0</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>    2</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3>total expenses</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>      414</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><U>      281</U></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>total</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>22.060</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>15.958</B></FONT></TD>
</TR>
<TR><TD WIDTH="51%" VALIGN="TOP">
<FONT SIZE=3><B>Balance</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>nil</B></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="RIGHT"><FONT SIZE=3><B>nil</B></FONT></TD>
</TR>
</TABLE>


<P><FONT SIZE=3><B>Explanation</B></FONT></P>
<P><FONT SIZE=3>The assets and liabilities show that the total assets have
grown 38% in 1998, compared to 1997.  Both the contributions from sponsors as
well as the one-time donations have grown considerably compared to 1997.
There have been no sale of Vim in 1998.  Donations have been received for
the use of Vim, but this is not mentioned separately, because it is not always
clear if a donation was because of using Vim.  In the next table can be seen
that the share from the sponsors has remained almost equal.</FONT></P>
<TABLE BORDER CELLSPACING=2 CELLPADDING=7 WIDTH=625 SUMMARY="assets">
<TR><TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>Assets in percentages</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1997</FONT></TD>
</TR>
<TR><TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>sponsor contributions</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>60 %</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>59 %</FONT></TD>
</TR>
<TR>
<TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>one-time donations</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>40 %</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>26 %</FONT></TD>
</TR>
<TR><TD WIDTH="52%" VALIGN="TOP">
<FONT SIZE=3>sale of Vim</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3><U>   0 %</U></FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3><U>   15 %</U></FONT></TD>
</TR>
<TR><TD WIDTH="52%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>100 %</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP"><P ALIGN="RIGHT"><FONT SIZE=3>100 %</FONT></TD>
</TR>
</TABLE>

<P>
<FONT SIZE=3>
We aim at very low costs.  The goal is to limit the costs to 5% of the
assets.<br>
The assets and liabilities show that the cost in 1998 was 1.9% of the total
assets.  Thus the goal has been met by a large margin.  The largest part of
the costs are the for the bank.  They are mostly for transferring the money to
Uganda and to cash foreign donations.
</FONT>
</P>
<TABLE BORDER CELLSPACING=2 CELLPADDING=7 WIDTH=612 SUMMARY="balance">
<TR>
<TD WIDTH="32%" VALIGN="TOP">
<P><FONT SIZE=3>Balace at December 31</FONT><br>
<FONT SIZE=1>(in Dutch guilders)</FONT></P></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1997</FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1998</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>1997</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP">
<FONT SIZE=3>Fixed assets</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>nil</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3>nil</FONT></TD>
</TR>
<TR>
<TD WIDTH="32%" VALIGN="TOP">
<FONT SIZE=3>Fund balances</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>5.534</U></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>7.008</U></FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">
<FONT SIZE=3>To be send to the project in Uganda</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>5.534</U></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><U>7.008</U></FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT SIZE=3><B>total</B></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>5.534</B></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>7.008</B></FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>5.534</B></FONT></TD>
<TD WIDTH="10%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT SIZE=3><B>7.008</B></FONT></TD>
</TR>
</TABLE>

<P><FONT SIZE=3><B>Explanation</B></FONT></P>
<P><FONT SIZE=3>
As can be seen from the balance, the foundation does not have fixed assets.
All assests are send to the project in Uganda, after reduction by expenses.
</FONT></P>

<P><FONT SIZE=3>
The balance (only at a bank) are lower by the end of 1998 than they were in
1997, but still quite high.  The reason is that quite a few of the donations
are received in December.  Early 1999 most of the balance will be send to
Uganda.  To reduce banking costs larger amounts are transferred at a time.
</FONT></P>

<P><FONT SIZE=3><B>Expectations for 1999</B></FONT></P>
<P><FONT SIZE=3>
January 1999 there are 31 sponsors.  The monthly income is fl 1065.  We
hope to further increase the number of sponsors in 1999.  Therefore we expect
that the total income from sponsors will be higher in 1999.<br>
The income from one-time donations and sale of Vim are, considering their
incidental nature, hard to predict.
</FONT></P>

<P>&nbsp;</P>
<P><FONT SIZE=3>Venlo, 16 januari 1999,</FONT></P>
<P><FONT SIZE=3>Bram Moolenaar, treasurer.</FONT></P>

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<small>
For comments on the ICCF Holland pages and for more information contact
Bram Moolenaar (Bram AT iccf-holland DOT org).
</small>

<br>
<small>
Information about these pages, privacy, etc.:&nbsp;&nbsp;
<A HREF="colofon.html" target="_top">colofon</A>
</small>

<br>
<small>
These pages are available at:&nbsp;&nbsp;
<A HREF="http://iccf-holland.org" target="_top">iccf-holland.org</A>&nbsp;&nbsp;&nbsp;&nbsp;
<A HREF="http://www.iccf.nl" target="_top">www.iccf.nl</A>
</small>

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